A mortgage adviser, also known as a mortgage broker, is a specialist in mortgage loans. A mortgage is a type of loan that’s used to finance property purchases such as a new home.
A mortgage advisor helps you get the best possible deal in the market as follows:
- Provide you with financial advice
- Assist with essential insurance
- Assist with banking applications and other paperwork
- Get you the best possible deal for your money
- Save you time and money
You do not need previous expenses to apply to become a mortgage advisor. You must complete the Certificate in Mortgage Advice and Practice (CeMAP) course which qualifies you. This Level 3 course is approved by the FCA (Financial Conduct Authority). The CeMAP can be studied independently or with the support of your employer. The course can take between 6 – 12 months to complete, based on your availability. Your skills develop further through a mixture of learning on the job and further studies.
Most brokers are paid through commission, an agreed percentage of the mortgage loan you arrange for your customers, although a flat fee upfront is also customary. Although there are many independent brokers, pleasing your customers with excellent service can result in several referrals leading to free advertising.
A career as a mortgage advisor can be very rewarding. A diverse set of customers, where your good work will lead them to new life. Satisfied customers lead to further referrals and that all needs to higher income for your career.